Investment Overview

Marcus & Millichap is presenting the 1200 Building at 1200 Washington Ave, Miami Beach, FL, For Sale. The property is a prime two-story commercial building in the heart of South Beach. This is an exceptional opportunity to acquire a high-visibility, two-story commercial building comprised of approximately 30,000 square feet. The building has a historically strong occupancy, featuring restaurants, a Chase ATM, and small offices on the second floor favored by local businesses. The building recently had the roof replaced. This rare chance to secure a flagship presence in Miami Beach’s cultural and commercial core. Whether you are an investor, developer, or end-user, 1200 Washington offers incredible potential and long-term value. The long-term value is the potential redevelopment. With the city’s push to encourage residential development, this property is in a prime position to take advantage of future incentives and planning flexibility. Options could range from the conversion of the second-floor office space into residential apartments, live/work lofts, or additional floors. While the ground floor can remain activated retail, creating a classic urban mixed-use model that benefits from high retail leasing rates that Washington Ave commands. The city is currently analyzing an incentive in the zoning code to allow for residential development. These incentives might Include, density bonuses or higher FAR allowances for incorporating residential units. This is something investors should follow and discuss with city officials to determine the probability. Situated in one of Miami Beach’s most iconic neighborhoods, the property benefits from strong pedestrian traffic, excellent public visibility, and proximity to local landmarks such as Lincoln Road, Ocean Drive, and Flamingo Park itself. Flamingo Park is undergoing a comprehensive revitalization under the Flamingo Park Master Plan, aimed at enhancing its role as a central recreational hub in South Beach. The goal is to modernize facilities, improve accessibility, and preserve the park's historic character. Recently Washington Ave benefited from two major developments to the south of the subject property. The openings of the Moxy South Beach and The Goodtime Hotel which have contributed to the revitalization of Washington Avenue. South Beach is undergoing major changes with new developments set to reshape its skyline and urban landscape. Here is an overview of significant projects influencing the city's future. Terra recently completed Five Park Miami Beach, located at 500 Alton Rd. This 47-story luxury condominium tower stands as the tallest building in South Beach and includes a public park as part of the development. Developer Michael Shvo is leading the redevelopment of the iconic Raleigh Hotel into a luxury hotel and condominium complex under the Rosewood brand. The project includes a new condominium tower designed by renowned architect Peter Marino. The Miami Beach Convention Center is undergoing a significant transformation to position itself as a premier destination for global events and tourism. One of the biggest additions to the convention center is the Grand Hyatt Miami Beach, a 17-story, 800-room hotel situated at 17th Street and Convention Center Drive.